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Platts EMEA Turkish Ferrous Scrap Daily Rationale

Tuesday, 20 October 2020

S&P Global Platts assessed Turkish imports of premium heavy melting scrap 1/2 (80:20) at $290/mt CFR on Oct. 20, up $3.25/mt on day.

One Turkish mill source cited a tradable value for premium HMS 1/2 (80:20) at $290/mt CFR, while a second Turkish mill source cited an indicative tradable value for premium HMS 1/2 (80:20) heard by Platts Oct. 20 at $290/mt CFR maximum.

A third Turkish mill source said $290/mt CFR was not workable for them, but may be for other mills, citing a tradable value for premium HMS 1/2 (80:20) at $286-$287/mt CFR, if the cargo contained largely cut-grade material.

One Turkish agent source cited a recycler’s tradable value for US-origin HMS 1/2 (80:20) at above $289/mt CFR, with around $290/mt CFR considered the minimum for cargoes with 30%-40% shredded scrap.

A second Turkish agent cited an indicative near-term tradable value for premium HMS 1/2 (80:20) at $292-$295/mt CFR. A third Turkish agent source also said $290/mt CFR was workable for US/Baltic material, while a fourth agent cited $290/mt CFR as a recycler’s target for Baltic-origin material.

A Turkish trader said $290/mt CFR and above was possible for premium HMS 1/2 (80:20), while an EU recycler said above $280/mt CFR was workable for EU-origin HMS 1/2 (80:20).

No data was excluded from the assessment.

The above rationale applies to Platts-TSI assessment of Turkish premium deep sea HMS 1/2 (80:20) imports, with the associated market data code: TS01011

-- Staff

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